Reliance Industries’ Q1 results can trigger rally in company’s shares, predicts CLSA

Shares of India’s most valued company, Reliance Industries (RIL), which have remained largely flat over the past year, could find a trigger in its Q1 results, likely to be announced next month, according to global brokerage firm CLSA.

“Reliance Industries is entering an exciting period, beginning with its 1QFY26 earnings, where we expect to see notable improvements in KPIs across its key businesses,” CLSA analyst Vikash Kumar Jain said in a note to investors.

CLSA has reiterated its ‘Outperform’ rating on the stock, with a 14% upside and a target price of ₹1,650.